P&I: increased profits with growth in sales in first half of fiscal 2006/2007
Wiesbaden (euro adhoc) -
Operating result (EBIT) rises to 4.7 million Sales growth of 8.1 per cent
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P&I Personal & Informatik AG increased its Group earnings before interest and taxes (EBIT) in the first half of fiscal 2006/2007 (April 1, 2006 to September 30, 2006) to 4.7 million euros from 3.8 million euros in the previous year. The Prime Standard-listed HR management software specialists, based in Wiesbaden, thus achieved an EBIT margin of 19.4 per cent in comparison with the previous years 17.2 per cent. Earnings before depreciation (EBITDA) rose from 5.5 million euros to the present 6.3 million euros. According to the German Association of Financial Analysts and Investment Consultants Schmalenbach Society (DFVA/SG), Group earnings amounted to 3.2 million euros compared to 2.4 million euros in the previous year. The P&I share developed positively in the course of the first six months, opening at 16.80 euros and closing at 17.20 euros on September 30, 2006. With the dividend of 3.00 euros per share paid out in the same period taken into account, this amounted to a rise of more than 20 per cent.
The renewed improvement in results can be put down to Group sales increasing by 8.1 % to 24.1 million euros in the first six months of 2006/2007, combined with costs rising at a lower than average rate. Increases in income from Maintenance and Consulting have been the determining factors in the overall growth in revenues in the first half of the fiscal year.
Maintenance business achieved sales of 10.1 million euros, representing an increase of 1.0 million euros or 11.1 % over the comparable period year-on-year. This results from stronger Licensing sales in the past few years. 42 % of Group sales was generated by the Maintenance business area.
P&I s revenue from Service Providing rose by 12 % or 0.8 million euros, with 7.7 million euros (previous year: 6.8 million euros), or 32 % of sales achieved in the area of Consulting/SI.
Licensing business, accounting for 5.7 million euros, remained at the previous years level. A number of smaller and mid-sized projects were realised in the first half of fiscal 2006/2007, although no major contracts such as in the comparable period in the previous year were generated.
P&I has continued on its successful course in the international arena, this area contributing positively to Group earnings with 0.4 million euros (previous year -0.3 million euros ) and sales of 3.7 million euros (previous year 2.8 million euros).
"Our mid-year results are on target. They confirm the rightness of our strategy over the past two years, which we will continue to pursue in the future," says CEO Vasilios Triadis. "The high performance and top technological standards of our product palette stand at the ready. Many companies and public institutions have seen the potential of our integrated HR software solutions and are deciding to come on board with P&I."
At the same time, P&I can reaffirm its predicted target for the whole of 2006/2007, to raise sales by around 10 per cent through organic growth and to establish the EBIT margin long-term in the region of 20 per cent.
end of announcement euro adhoc 09.11.2006 10:16:51
Further inquiry note:
Andreas Granderath
Telefon: +49(0)611 7147 267
E-Mail: agranderath@pi-ag.com
Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technologie All Share
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